Ovo to be bought by E.On: what this means for Ovo customers
Ovo Energy is set to be bought by E.On, it was announced today. If you're an Ovo customer, don't panic: your gas and electricity supply will continue as usual. Keep reading to find out what we know so far about what will change, when and what you should do.
The multimillion-pound deal will make E.On Britain's largest energy supplier by customer accounts, with around 9.7m. That brings its market share to 28%, which is larger than Octopus Energy's 25%.
Customers won't see any immediate changes because the deal still needs to be reviewed by regulators. The deal is expected to be completed in the second half of 2026, according to E.On. Until then, E.On and Ovo will operate independently.
E.On said that existing tariffs will be honoured in full and service will continue unchanged.
Ovo has also agreed to sell its Home Services business (including Corgi Homeplan and Homeheat), which provides boiler servicing and insurance, to Hometree. It confirmed that customers' contracts and prices will be honoured with no changes.
You don't need to do anything, and you can still switch suppliers if you wish.
Find out whether Ovo Energy and E.On Next are among the best energy suppliers for 2026.
The future of E.On Next and Ovo Energy
E.On UK chief executive Chris Norbury said that 'this deal is about customers [being] in control and new energy that works for everyone'.
E.On wants to make the energy system more 'customer-led' and offers:
- Time-of-use tariffs that reward customers for shifting energy use to cheaper, off-peak periods
- Home batteries and EV charging
- Integrated energy solutions designed to reduce bills over the long term.
It added: 'It is about building a retailer with the capability, the technology and the customer base. [...] We chose Ovo because it’s a modern, digitally native business with great people and a shared belief that innovation is what can make energy affordable and sustainable for everyone.'
Find out more about time-of-use tariffs, home batteries and home EV charging.
What happened to Ovo Energy?
Ovo Energy was set up in 2009 to disrupt the energy market. It grew rapidly into one of the biggest and most established energy providers in Great Britain.
It bought SSE's retail business in 2020.
It had a market share of 11.7% for electricity and 9.8% for gas in April 2026, according to energy regulator Ofgem, making it the fourth-biggest supplier.
But Ovo made a loss in 2024 and struggled to meet some of Ofgem's financial resilience rules.
If you are a current Ovo customer, your energy supply will continue as normal and existing tariffs will be honoured in full.
Changes are coming to energy bills for those who haven't fixed their energy deal. For those on out-of-contract variable tariffs, the July price cap is expected to rise significantly due to soaring global energy prices.
To see what options are available for fixing a tariff, head to our table of the latest cheapest deals in our guide to how to get the best energy deal.
